Blockchain Technology - CompTIA Security+ SY0-701 - 1.4
Understanding Blockchain Technology
What is Blockchain?
- Blockchain technology is defined as a distributed ledger that allows anyone to view it, serving the purpose of tracking individual transactions.
- Each participant in the blockchain maintains a copy of this ledger, ensuring transparency and accessibility for all involved parties.
Applications of Blockchain
- The blockchain can be utilized for various applications such as payment processing, digital identification, supply chain monitoring, and digital voting.
- Examples of transactions include transferring Bitcoin, creating data backups, or transferring property titles. Instead of sending transaction results to one person, they are shared with all participants on the blockchain.
Transaction Processing
- Transactions are grouped into larger blocks before being processed into the blockchain. A hash is added to each block to ensure integrity across all included transactions.
- Once a block is created with its hash, it is sent to everyone maintaining a copy of the blockchain's ledger.
Security Features
- The hash plays a crucial role in security; if any existing transaction within the blockchain is modified, the hash becomes invalid. Other devices will reject this altered block upon detecting an invalid hash.